Keefe, Bruyette & Woods Issues Pessimistic Forecast for Chimera Investment (NYSE:CIM) Stock Price

Key Points

• Keefe, Bruyette & Woods cut Chimera Investment’s price target to $14 from $15 while maintaining a “market perform” rating, implying 18.15% upside from the prior close.
• Analyst sentiment remains mixed but centered on “Hold”: consensus includes one Buy, two Hold, and one Sell rating, with an average price target of $14.50.
• Chimera’s latest quarterly results fell short of expectations, reporting $0.46 in EPS versus $0.54 estimated and revenue of $94.77 million versus $95.30 million expected; the stock opened at $11.85.

Chimera Investment (NYSE:CIM - Get Free Report) had its target price reduced by investment analysts at Keefe, Bruyette & Woods from $15.00 to $14.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "market perform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 18.15% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. Royal Bank Of Canada reissued a "sector perform" rating and set a $14.00 price objective on shares of Chimera Investment in a research report on Wednesday, June 3rd. Weiss Ratings lowered Chimera Investment from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday. Finally, Wall Street Zen raised Chimera Investment from a "sell" rating to a "hold" rating in a research report on Sunday, June 28th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Chimera Investment currently has a consensus rating of "Hold" and a consensus price target of $14.50.

Chimera Investment Price Performance

Shares of NYSE:CIM opened at $11.85 on Thursday. The business has a 50-day moving average of $13.08 and a two-hundred day moving average of $13.16. Chimera Investment has a fifty-two week low of $11.46 and a fifty-two week high of $14.88. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market capitalization of $991.12 million, a P/E ratio of -14.81 and a beta of 1.67.

Chimera Investment (NYSE:CIM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.46 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.08). The company had revenue of $94.77 million for the quarter, compared to analyst estimates of $95.30 million. Chimera Investment had a net margin of 2.27% and a return on equity of 9.36%.

Institutional Investors Weigh In On Chimera Investment

A number of institutional investors have recently added to or reduced their stakes in CIM. IFP Advisors Inc lifted its position in shares of Chimera Investment by 1,211.4% during the 4th quarter. IFP Advisors Inc now owns 6,216 shares of the real estate investment trust's stock worth $77,000 after buying an additional 5,742 shares during the period. Tower Research Capital LLC TRC boosted its stake in Chimera Investment by 92.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,140 shares of the real estate investment trust's stock valued at $99,000 after buying an additional 3,423 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Chimera Investment in the fourth quarter valued at $105,000. BNP Paribas Financial Markets grew its holdings in shares of Chimera Investment by 59.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,686 shares of the real estate investment trust's stock worth $107,000 after purchasing an additional 2,857 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Chimera Investment during the 4th quarter worth about $129,000. 48.44% of the stock is owned by institutional investors and hedge funds.

Chimera Investment Company Profile

Chimera Investment Corporation NYSE: CIM is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company's portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm's core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.

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